Developer and entrepreneur Michael Capponi and Broker Oren Alexander, of the Alexander Team from Douglas Elliman, have announced the sale of a breathtaking, waterfront mansion in Miami Beach with 300 ft. of water frontage. The property is located at 2901 Flamingo Dr. Miami Beach. This 6,700-square-foot gated home features 6 bedrooms, 7.5 bathrooms, private dock for a 50-foot plus yacht, soaring ceilings, grand formal rooms, magnificent kosher kitchen, natural light, separate staff quarters, standalone guesthouse/gym, resort-style pool, infinity hot tub and lushly landscaped grounds and a two car garage. Priced at $6.495 million, this is an incredible opportunity in Miami’ssurging real estate market.
Designed by architect Kobi Karp, this modern estate is truly five-star living with an impressive Master bedroom suite with 13-foot ceilings, private sitting room office, three balconies, large walk-in closet, and a master bathroom with Jacuzzi and his and hers vanity area. A separate 2-story guesthouse on the property features a Master suite, gym and wet bar.
This property is all about lifestyle and nature, with sunset and sunrise views from its east and west master bedroom balconies. The residence even has its own private, protected mangroves and beautiful green spaces. However, its location is within the heart of Miami Beach, also known as America’s Riviera. It’s a 3-minute walk to the Atlantic Ocean, as well as the new platinum corridor of Miami Beach consisting of the highest per sq. sales in Miami Beach history. The Faena District, Edition Hotel and some of the best restaurants in the world are in this corridor with a $3 billion-plus investment being made in the area. Access to all of this dynamic city life is via the adjacent footbridge.
Michael Capponi, President of Capponi Group, a firm known for revitalizing some of Miami Beach’s most famous homes, collaborated with Kobi Karp to preserve the original streamline-era structure, which was further enhanced with large additions to appease the sophisticated home buyer.
In 2013, Capponi Group completed a $32M renovation of the former SS Kresge estate bought by McDean chairman William H. Dean. Capponi Group was a recipient of the Miami Beach Chamber of Commerce’s Better Beach Awards with a Most Extravagant Renovation recognition and the Tony Goldman Historic Preservation award. When the new property, called Terra Veritatis, was introduced to the market it played a major role in boosting real estate values on Pinetree Drive.
Capponi Group is well established in creating high values in newer markets. In 2008, Capponi developed and sold the highest priced non-waterfront home in Miami Beach history and in 2011, he developed and sold the highest priced home on Sunset Island 4.
Capponi sees Flamingo Drive as one of the last great opportunities to purchase brand new, mid-size estates for just under $1,000 a ft. 1,500 ft. away there are condos with similar finishes that have closed for $3,000 a ft. Capponi notes that, “It takes just as long to get in an elevator and go to the beach from a condo, then it does to walk across the footbridge from this estate.”
Photos by Romain Maurice Photography & LPG